One of Japan’s largest integrated chemical company, Mitsubishi Chemical Group, is planning to expand its footprint in India by entering the country’s semiconductor and electric vehicle (EV) supply chains. The company aims to collaborate with local partners to capitalize on India’s rapidly growing demand in these sectors.
Existing Operations in India
Manabu Chikumoto, Director of the Board, President, and CEO of Mitsubishi Chemical Group, highlighted the company’s ongoing operations in India. These include a polypropylene business in Rajasthan’s Neemrana, an industrial gas unit in Pune, and a compounding business in Gujarat.
Exploring New Investment Opportunities
Mitsubishi Chemical is actively evaluating opportunities for expansion and is in discussions regarding potential new ventures. “We see strong potential in India’s expanding semiconductor ecosystem and are exploring ways to contribute through our semiconductor supply chain products,” Chikumoto stated.
Investment Plans and Government Support
Although the company has yet to choose specific locations for new manufacturing projects, it will base its investment decisions on the products being developed.
Chikumoto acknowledged the Indian government’s efforts to boost the semiconductor industry and emphasized the importance of support from both central and local authorities for any greenfield projects.
India’s Chemical Industry Growth
Arnab Basu, President of The Bengal Chamber of Commerce and Indistry, underscored the significance of such global collaborations. He stated that India’s chemical industry will grow to ₹6,324 billion this year. As reported by newsonprojects.com, he noted that West Bengal has a well-integrated supply chain. He added that the state could benefit significantly from Mitsubishi Chemical’s potential investments.
